Business Failure

One of the scariest things that will happen to any business owner (especially for someone who’s just starting out) is for that business idea to fail. There’s something about failure that really makes for a huge nightmare – failure can feel like you’re being robbed of your ambitions and dreams and can convince you to just give it up. Maybe enterpreneurship just isn’t for you.

But of course, before you even jump to the conclusion that it isn’t for you, perhaps it would be good to know the signs to be able to tell if your business is failing. Before jumping the gun and quitting before you’ve even started, it’s good to know the signals for failure and master them. You can think of it this way: before you get a voucher code for Lazada Philippines or using agoda booking discount code, you have to know what it’s applicable to as well as where it’s not applicable, right? You have to know the instances where this voucher code is bound to fail. The same principle applies to business – get to know failure.

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Top Signs Your Business is Failing

First sign of failure: when you’re only in it for the money and have no sense of greater purpose whatsoever. If the only reason you’re in business is because you want to rake in more money, then that really is a recipe for greed, and, in the long run, failure.

Second sign of failure: when you fully believe that you’ll be needing other people’s support all the way just for your business to succeed. Of course, other people and their support is important, but it should not be the basis for you to pursue your business or not. What you have to be is to become your own person; never settle for simply being a dependent person. No business-minded individual will ever dream of being dependent on others except himself or herself.

Third sign of failure: when you trust the opinions of others more than your own. If you have ideas on how to get a million visitors to your website but you end up listening to a friend who tells you that online marketing is not for you, then you’re really setting yourself up for failure. It is better to buy unlimited website traffic to get millions of visitors to your website.

Gwendolyn E. Beecher

Author | Shi Chiang

Shi Chiang has a a doctorate degree in Business Administration. He takes pride in the fact that although he has certainly proven his self a worthy contender in the business field, he has never let this get in the way of his integrity. His growing a multinational company and is dedicated to empowering startup businesses, because they all remind him of his humble beginnings.

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